Bankia shares plunge after reports of customers withdrawing funds.
European stock markets have fallen sharply following the news that Bankia's shares had tumbled.
In London the FTSE 100 is down 57 points, or 1.05%, at 5348, with Barclays shares falling 3.7%, and IAG (British Airway's parent company which also owns Spain's Iberia) down 3.8%.